Polk County vs. Missouri | Total Personal Income Trends over 1969-2022

Introduction

Polk County:

2022 TPI = $1,380,428K

2022 Percent of State = 0.39%

Missouri:

2022 TPI = $357,194,742K

2022 Percent of U.S. = 1.64%

The annual total personal incomes (TPI) estimates compiled by the Bureau of Economic Analysis, (BEA) are among the most comprehensive, consistent, comparable and timely measures of economic activity available statewide and at the national levels. Personal income estimates are also the best available local level indicator of general purchasing power, and are therefore central to tracking and comparing county patterns of economic growth and change.

The following graphs highlight trends in the pattern of growth and change in the total personal income of Polk County and Missouri with comparison to the nation. The data used are those compiled by the Regional Income and Product Divisions of the Bureau of Economic Analysis, U.S. Department of Commerce. The 2017 constant dollar (real) estimates of total personal income reported in the tables and portrayed graphically below are determined using the Implicit Price Deflator for Personal Consumption.

Data Definition:

Personal income is the income received by persons from participation in production, plus transfer receipts from government and business, plus government interest (which is treated like a transfer receipt). It is defined as the sum of wages and salaries, supplements to wages and salaries, proprietors' income with inventory valuation and capital consumption adjustments, rental income of persons with capital consumption adjustment, personal dividend income, personal interest income, and personal current transfer receipts, less contributions for government social insurance. Because the personal income of an area represents the income that is received by, or on behalf of, all the persons who live in that area, and because the estimates of some components of personal income (wages and salaries, supplements to wages and salaries, and contributions for government social insurance) are made on a place-of-work basis, state personal income includes an adjustment for residence. The residence adjustment represents the net flow of compensation (less contributions for government social insurance) of interstate commuters.

Polk County Total Personal Income, 1970-2022
Current vs. Constant Dollars (Millions)

Figure 1.

Figure 1 depicts Polk County's annual total personal income over 1970-2022 in current and constant (2017) dollars. Constant dollar measurements remove the effects of inflation. They allow for comparison of changes in the real purchasing power of Polk County over time.

When measured in current dollars, Polk County's total personal income increased 3,003.62%, from $44M in 1970 to $1,380M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 428.65%, from $225M in 1970 to $1,190M in 2022.

Real Total Personal Income, 1969-2022 (Millions)

Figure 2.

Figure 2 traces Polk County's and Missouri's annual real total personal income for the period 1969-2022 to illustrate real total personal income patterns over time. During this 54-year period, Polk County's real total personal income rose from $215M in 1969 to $1,190M in 2022, for a net gain of $975M, or 454.35%. In comparison, Missouri's real total personal income advanced from $89,565M in 1969 to $307,812M in 2022, for a net advance of $218,248M, or 243.68%.

Real Total Personal Income Indices (1969=100): 1969-2022

Figure 3.

Figure 3 portrays Polk County's real total personal income growth in a broader context by offering direct comparisons across time with Missouri, the United States. The growth indices shown here express each region's real total personal income in 1969 as a base figure of 100, and the real total personal incomes in later years as a percentage of the 1969 base figure. This method allows for more direct comparison of differences in real total personal income growth between regions that may differ vastly in size.

Polk County's overall real total personal income growth was 454.35% over 1969-2022 outpaced Missouri's increase of 243.68%, and topped the United States' increase of 348.76%.

Total Personal Income as a Percent of the Missouri Total: 1969-2022

Figure 4.

Another interesting and insightful way of highlighting the total personal income growth of Polk County is to trace its individual percentage contributions to Missouri's statewide total personal income over time, as shown in Figure 4. A rising share means a region's total personal income grew faster, or declined less, than Missouri's total personal income, while a declining share shows it grew more slowly.

In 1969, Polk County's total personal income totaled 0.24% of Missouri's total personal income, while in 2022 it equated to 0.39% thereby yielding a +0.15% share-shift.

Total Personal Income Share-Shift

2022 vs. 1969

	Share- Shift*		2022	vs.	1969
Polk County	+0.15%	=	0.39%	-	0.24%

*Percent figures may not add due to rounding by a factor of ± 0.01%.

Polk County Real Total Personal Income:
Annual Percent Change, 1970-2022

Figure 5.

Figure 5 displays the short-run pattern of Polk County's real total personal income growth by tracking the year-to-year percent change over 1970-2022. The average annual percent change for the entire 53-year period is also illustrated on this chart to provide a benchmark for gauging periods of relative high--and relative low--growth against the backdrop of the long-term average.

On average, Polk County's real total personal income grew at an annual rate of 3.32% over 1970-2022. The county posted its highest growth in 1984 (9.38%) and recorded its lowest growth in 1974 (-3.45%). In 2022, Polk County's real total personal income declined by -2.46%

Polk County Real Total Personal Income:
Annual Percent Change and Decade Averages Over 1970-2022

Figure 6.

Over the past five decades some counties have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 6 again depicts the annual percent change in Polk County's real total personal income since 1970, but this time they are overlayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2022.

During the 1970s, Polk County's annual real total personal income growth rate averaged 4.45%. It averaged 3.41% throughout the 1980s, 3.17% in the 1990s, 3.46% in the 2000s, 2.23% throughout the 2010s, 3.01% thus far this decade (2020-2022).

Real Total Personal Income Growth:
Average Annual Percent Change by Decade

Figure 7.

Figure 7 compares the decade average growth rates for Polk County noted in the previous graph with the corresponding decade averages for Missouri and the nation. As the chart reveals, Polk County's average annual real total personal income growth surpassed Missouri's average throughout the 1970s (4.45% vs. 3.08%), outperformed Missouri's average during the 1980s (3.41% vs. 2.44%), exceeded Missouri's average in the 1990s (3.17% vs. 2.84%), led Missouri's average during the 2000s (3.46% vs. 1.84%), exceeded Missouri's average throughout the 2010s (2.23% vs. 1.68%), and recorded above Missouri's average over the 3 year period of the current decade, 2020-2022 (3.01% vs. 2.41%).

Finally, relative to nationwide real total personal income growth trends, Polk County led the nation over the 1970s (4.45% vs. 3.50%), outpaced the nation throughout the 1980s (3.41% vs. 3.16%), fell below the nation over the 1990s (3.17% vs. 3.27%), recorded above the nation throughout the 2000s (3.46% vs. 2.06%), fell under the nation in the 2010s (2.23% vs. 2.72%), and led the nation over 2020-2022 (3.01% vs. 2.10%).

Real* Total Personal Income Growth:

Average Annual Percent Change

	1970-2022	1970-1979	1980-1989	1990-1999	2000-2009	2010-2019	2020-2022	2022
	%	%	%	%	%	%	%	%
Polk	3.32	4.45	3.41	3.17	3.46	2.23	3.01	-2.46
Missouri	2.38	3.08	2.44	2.84	1.84	1.68	2.41	-3.02
United States	2.89	3.50	3.16	3.27	2.06	2.72	2.10	-4.19

*Real total personal income growth determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

Interactive Table Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

Polk County:
Total Personal Income, 1969-2022


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change	Percent of Statewide Total
1969	40,521	0.189	214,590	100.0	N	0.24
1970	44,478	0.198	225,023	104.9	4.86	0.24
1971	48,910	0.206	237,370	110.6	5.49	0.25
1972	54,661	0.213	256,528	119.5	8.07	0.25
1973	62,863	0.225	279,951	130.5	9.13	0.26
1974	67,012	0.248	270,286	126.0	-3.45	0.26
1975	75,036	0.269	279,360	130.2	3.36	0.27
1976	85,471	0.283	301,666	140.6	7.98	0.28
1977	93,350	0.302	309,352	144.2	2.55	0.27
1978	106,768	0.323	330,797	154.2	6.93	0.28
1979	115,736	0.351	329,329	153.5	-0.44	0.27
1980	131,469	0.389	337,723	157.4	2.55	0.28
1981	148,362	0.424	349,787	163.0	3.57	0.29
1982	156,968	0.448	350,602	163.4	0.23	0.29
1983	172,102	0.467	368,716	171.8	5.17	0.29
1984	195,354	0.484	403,299	187.9	9.38	0.30
1985	207,140	0.501	413,222	192.6	2.46	0.30
1986	219,069	0.512	427,710	199.3	3.51	0.30
1987	226,619	0.528	429,186	200.0	0.35	0.29
1988	237,816	0.549	433,457	202.0	0.99	0.29
1989	262,885	0.573	459,100	213.9	5.92	0.30
1990	272,617	0.598	456,072	212.5	-0.66	0.30
1991	289,863	0.618	469,231	218.7	2.89	0.30
1992	310,068	0.634	488,912	227.8	4.19	0.30
1993	337,119	0.650	518,645	241.7	6.08	0.32
1994	360,616	0.664	543,457	253.3	4.78	0.32
1995	388,636	0.678	573,599	267.3	5.55	0.33
1996	415,416	0.692	600,286	279.7	4.65	0.33
1997	433,965	0.704	616,366	287.2	2.68	0.32
1998	445,146	0.710	627,258	292.3	1.77	0.32
1999	450,412	0.720	625,564	291.5	-0.27	0.31
2000	484,405	0.738	656,180	305.8	4.89	0.31
2001	528,335	0.753	701,621	327.0	6.93	0.33
2002	544,379	0.763	713,556	332.5	1.70	0.33
2003	568,035	0.779	729,241	339.8	2.20	0.33
2004	625,647	0.798	783,754	365.2	7.48	0.35
2005	673,709	0.821	820,326	382.3	4.67	0.36
2006	706,931	0.844	837,199	390.1	2.06	0.36
2007	731,721	0.866	844,875	393.7	0.92	0.35
2008	782,331	0.892	877,348	408.8	3.84	0.36
2009	779,655	0.889	876,795	408.6	-0.06	0.36
2010	791,266	0.905	874,192	407.4	-0.30	0.36
2011	827,988	0.928	892,190	415.8	2.06	0.36
2012	871,673	0.945	922,074	429.7	3.35	0.36
2013	892,891	0.958	932,221	434.4	1.10	0.37
2014	952,160	0.971	980,385	456.9	5.17	0.38
2015	973,878	0.973	1,000,913	466.4	2.09	0.38
2016	979,594	0.983	996,697	464.5	-0.42	0.37
2017	1,033,792	1.000	1,033,792	481.8	3.72	0.38
2018	1,089,991	1.020	1,068,126	497.8	3.32	0.38
2019	1,129,685	1.035	1,091,346	508.6	2.17	0.38
2020	1,238,191	1.046	1,183,343	551.4	8.43	0.39
2021	1,329,352	1.090	1,219,578	568.3	3.06	0.38
2022	1,380,428	1.160	1,189,583	554.4	-2.46	0.39

1 1969 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

Source: Calculations by the Missouri Regional Economic Analysis Project (MO-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis

November 2023

REAP_PI_CA1400_300_PSN

Interactive Table Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

Missouri:
Total Personal Income, 1969-2022


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change	Percent of Nationwide Total
1969	16,912,485	0.189	89,564,608	100.0	N	2.14
1970	18,479,482	0.198	93,491,258	104.4	4.38	2.16
1971	19,938,913	0.206	96,767,353	108.0	3.50	2.16
1972	21,682,224	0.213	101,756,261	113.6	5.16	2.13
1973	24,089,650	0.225	107,279,670	119.8	5.43	2.13
1974	25,774,725	0.248	103,959,686	116.1	-3.09	2.07
1975	28,212,715	0.269	105,036,169	117.3	1.04	2.07
1976	30,912,024	0.283	109,102,545	121.8	3.87	2.07
1977	34,252,401	0.302	113,508,752	126.7	4.04	2.07
1978	38,129,735	0.323	118,136,495	131.9	4.08	2.05
1979	42,514,262	0.351	120,975,051	135.1	2.40	2.05
1980	46,138,539	0.389	118,522,757	132.3	-2.03	1.99
1981	51,479,765	0.424	121,371,602	135.5	2.40	1.99
1982	55,043,829	0.448	122,945,275	137.3	1.30	1.98
1983	58,776,893	0.467	125,925,300	140.6	2.42	1.98
1984	65,104,981	0.484	134,406,121	150.1	6.73	1.99
1985	69,704,040	0.501	139,052,107	155.3	3.46	1.99
1986	73,379,132	0.512	143,265,452	160.0	3.03	1.97
1987	77,025,452	0.528	145,876,012	162.9	1.82	1.96
1988	82,057,137	0.549	149,561,901	167.0	2.53	1.92
1989	87,941,735	0.573	153,580,509	171.5	2.69	1.91
1990	91,896,544	0.598	153,737,422	171.6	0.10	1.88
1991	96,075,025	0.618	155,526,637	173.6	1.16	1.89
1992	102,078,066	0.634	160,955,639	179.7	3.49	1.89
1993	106,723,405	0.650	164,189,854	183.3	2.01	1.89
1994	113,256,616	0.664	170,680,294	190.6	3.95	1.91
1995	119,399,811	0.678	176,225,479	196.8	3.25	1.90
1996	126,394,157	0.692	182,642,598	203.9	3.64	1.90
1997	134,117,797	0.704	190,489,294	212.7	4.30	1.90
1998	140,839,690	0.710	198,458,002	221.6	4.18	1.86
1999	146,172,453	0.720	203,014,476	226.7	2.30	1.83
2000	156,202,129	0.738	211,592,925	236.2	4.23	1.81
2001	161,531,191	0.753	214,511,156	239.5	1.38	1.80
2002	165,389,801	0.763	216,788,089	242.0	1.06	1.81
2003	171,593,178	0.779	220,290,623	246.0	1.62	1.81
2004	180,453,767	0.798	226,056,055	252.4	2.62	1.80
2005	186,770,922	0.821	227,417,198	253.9	0.60	1.77
2006	197,834,125	0.844	234,289,584	261.6	3.02	1.75
2007	207,411,340	0.866	239,485,654	267.4	2.22	1.74
2008	219,921,999	0.892	246,632,274	275.4	2.98	1.77
2009	216,424,450	0.889	243,389,582	271.7	-1.31	1.79
2010	221,760,207	0.905	245,001,002	273.5	0.66	1.77
2011	230,858,278	0.928	248,758,974	277.7	1.53	1.74
2012	240,967,754	0.945	254,900,622	284.6	2.47	1.73
2013	242,493,009	0.958	253,174,439	282.7	-0.68	1.72
2014	250,783,748	0.971	258,217,840	288.3	1.99	1.70
2015	259,349,984	0.973	266,549,486	297.6	3.23	1.68
2016	267,048,570	0.983	271,711,133	303.4	1.94	1.68
2017	273,774,195	1.000	273,774,195	305.7	0.76	1.64
2018	286,084,305	1.020	280,345,630	313.0	2.40	1.63
2019	297,349,071	1.035	287,257,708	320.7	2.47	1.62
2020	320,592,856	1.046	306,391,605	342.1	6.66	1.63
2021	345,961,209	1.090	317,392,693	354.4	3.59	1.62
2022	357,194,742	1.160	307,812,399	343.7	-3.02	1.64

1 1969 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

Source: Calculations by the Missouri Regional Economic Analysis Project (MO-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis

November 2023

REAP_PI_CA1400_300_PSN

Interactive Table Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

United States:
Total Personal Income, 1969-2022


Year	Current Dollars (1000s)	Implicit Price Deflator2	Constant Dollars (1000s)	Index1	Percent Change
1969	791,229,000	0.189	4,190,165,758	100.0	N
1970	855,525,000	0.198	4,328,265,709	103.3	3.30
1971	924,613,000	0.206	4,487,323,465	107.1	3.67
1972	1,016,408,000	0.213	4,770,076,966	113.8	6.30
1973	1,133,468,000	0.225	5,047,731,018	120.5	5.82
1974	1,244,912,000	0.248	5,021,223,733	119.8	-0.53
1975	1,362,505,000	0.269	5,072,617,275	121.1	1.02
1976	1,495,704,000	0.283	5,279,017,400	126.0	4.07
1977	1,651,632,000	0.302	5,473,329,799	130.6	3.68
1978	1,855,849,000	0.323	5,749,934,936	137.2	5.05
1979	2,073,296,000	0.351	5,899,598,782	140.8	2.60
1980	2,313,972,000	0.389	5,944,235,512	141.9	0.76
1981	2,590,995,000	0.424	6,108,676,176	145.8	2.77
1982	2,777,640,000	0.448	6,204,105,336	148.1	1.56
1983	2,969,333,000	0.467	6,361,584,112	151.8	2.54
1984	3,275,415,000	0.484	6,761,937,695	161.4	6.29
1985	3,508,482,000	0.501	6,999,046,441	167.0	3.51
1986	3,717,756,000	0.512	7,258,548,586	173.2	3.71
1987	3,931,800,000	0.528	7,446,308,852	177.7	2.59
1988	4,264,433,000	0.549	7,772,592,728	185.5	4.38
1989	4,605,107,000	0.573	8,042,309,775	191.9	3.47
1990	4,897,332,000	0.598	8,192,943,538	195.5	1.87
1991	5,072,291,000	0.618	8,211,045,100	196.0	0.22
1992	5,406,546,000	0.634	8,524,985,809	203.5	3.82
1993	5,643,648,000	0.650	8,682,535,385	207.2	1.85
1994	5,933,938,000	0.664	8,942,579,420	213.4	3.00
1995	6,278,125,000	0.678	9,266,058,093	221.1	3.62
1996	6,660,854,000	0.692	9,625,094,288	229.7	3.87
1997	7,068,422,000	0.704	10,039,373,926	239.6	4.30
1998	7,584,003,000	0.710	10,686,661,406	255.0	6.45
1999	7,978,449,000	0.720	11,081,025,264	264.5	3.69
2000	8,620,234,000	0.738	11,677,052,911	278.7	5.38
2001	8,990,104,000	0.753	11,938,732,039	284.9	2.24
2002	9,146,700,000	0.763	11,989,225,466	286.1	0.42
2003	9,474,684,000	0.779	12,163,560,736	290.3	1.45
2004	10,008,929,000	0.798	12,538,275,270	299.2	3.08
2005	10,540,800,000	0.821	12,834,755,927	306.3	2.36
2006	11,291,446,000	0.844	13,372,153,008	319.1	4.19
2007	11,925,044,000	0.866	13,769,145,681	328.6	2.97
2008	12,423,410,000	0.892	13,932,275,429	332.5	1.18
2009	12,058,253,000	0.889	13,560,635,845	323.6	-2.67
2010	12,547,501,000	0.905	13,862,497,514	330.8	2.23
2011	13,299,818,000	0.928	14,331,082,712	342.0	3.38
2012	13,905,749,000	0.945	14,709,785,897	351.1	2.64
2013	14,063,283,000	0.958	14,682,748,144	350.4	-0.18
2014	14,778,160,000	0.971	15,216,235,418	363.1	3.63
2015	15,467,113,000	0.973	15,896,476,839	379.4	4.47
2016	15,884,741,000	0.983	16,162,082,333	385.7	1.67
2017	16,658,962,000	1.000	16,658,962,000	397.6	3.07
2018	17,514,402,000	1.020	17,163,073,878	409.6	3.03
2019	18,343,601,000	1.035	17,721,060,157	422.9	3.25
2020	19,609,985,000	1.046	18,741,324,605	447.3	5.76
2021	21,392,812,000	1.090	19,626,252,970	468.4	4.72
2022	21,820,248,000	1.160	18,803,588,325	448.8	-4.19

1 1969 = 100

2 Implicit Price Deflator for Personal Consumption (2017=1.00).

*Real total personal income determined using the Implicit Price Deflator for
Personal Consumption (2017=1.00).

N Data not available for this year or not meaningful.

Source: Calculations by the Missouri Regional Economic Analysis Project (MO-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis

November 2023

REAP_PI_CA1400_300_PN

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